The struggles and challenges of financial advisor in insurance company: A phenomenological study

Abstract

This study aims to understand the struggles and challenges of financial advisors by employing a phenomenological research approach. Through in-depth interviews (IDI) with seven (7) participants, the study aims to explore the lived struggles and challenges of a financial advisor in the insurance industry. By immersing in their narratives, the research aims to uncover the difficult challenges encountered by these professionals, such as the difficulty in locating potential clients, learning financial strategic management, and work life balance situation. This design and approach facilitate a deep exploration into the certainties faced by financial advisors, offering valuable insights into their professional journey and obstacles encountered within the industry. Additionally, participants demonstrate a remarkable ability to transform challenges into sources of motivation, instead of allowing setbacks to deter them. Participants also, draw strength from the camaraderie of their co-workers, mentors, and peers. This network serves as a source of encouragement and fortitude, providing them with the necessary support to navigate obstacles and persevere in their careers. Further, the insights generated from the results are stimulated by financial advisors struggles and challenges and how to overcome the struggles in their field. This research contributes to a deeper understanding of the experiences of financial advisors, offering valuable implications for practice and policy within the industry.